The chart above by Mark J. Perry, a scholar at the American Enterprise Institute and professor of economics and finance at the University of Michigan's Flint campus, was recently published demonstrating the rise in healthcare prices in government services affected by bureaucratic regulatory capture (red) and those that were not so affected (blue).
Physicians are directly feeling the brunt of this economic effect with American Board of Internal Medicine's (ABIM) Maintenance of Certification (MOC).
The American College of Cardiology and the Heart Rhythm Society have thrown their support behind the ABIM's MOC product by offering a new, even MORE expensive product, the Collaborative Maintenance Pathway (CMP), that will raise the cost for MOC over 462% from 2000-2020:
Think about that.
I would encourage all of my colleagues to support our GoFundMe effort the end the regulatory capture of the ABIM by contributing whatever you can to the anti-trust and racketeering lawsuit against them.
Thanks.
-Wes
Where have I heard this story before?
ReplyDeleteOnly a Ponzi scheme like MOC could offer such lucrative year-over-year growth in earnings to executive owners of the "not-for-profit fund". Hundreds of thousands of foolish captured clients have been suckered out of their money. Passive physicians are eating crow holding their worthless, but expensive "shares". at the bottom of the ABMS pyramid.
Rust and Diamonds (ABMS and Affliliates' Cashing in Big on Big Data)
ReplyDeleteMOC and recent changes and requirements ensures the rich data flow on physicians
TV's versus Patient/Physician Medical Data (the two ends of the inflationary pole)
What is not reflected in the story or the inflation graph/chart is the value of physician/patient data. When you calculate what the ABMS and their "affiliates" are making on data it is a whole other set of further inflated numbers, that does not reflect how much the ABMS and their "partners" are raking in/generating. The flow of data means the building of capital and the flow of increased revenues and profits. The amount of data is increasing rapidly with Google and Amazon (and countless others) now on the health data registry bandwagon.
ABMS Solutions and their for profit partners do not have a public tax return, for example. The medical societies and specialty boards are literally helping to create wealth for themselves and the medical industrial complex. They are heaping money on their plates by the fistful with data collection and the sale of it.
Japanese Medical Association says, “Medicine should be for the public benefit, not for business.” (And that's not exactly the full story.)
"Officials in many countries suggest that they enjoy stronger privacy protections than the United States, either through law or tradition. Yet increasingly, American-style accumulation of sensitive medical data on millions of patients is becoming commonplace.
For example, many Japanese officials contend that the aggregating and selling anonymized patient files does not occur in Japan as it would violate Japanese sensibilities. “The difference between IMS in Japan and in the United States, in Japan they treat data and privacy in a more sensitive way,” said Yoshitake Yokokura, president of the influential Japan Medical Association. “Medicine should be for the public benefit, not for business.”
https://yaleglobal.yale.edu/content/hidden-global-trade-patient-medical-data
The cost of a "TV" is down, but the cost of television services is way up, and they also are making money on selling your data. Viewing habits, etc. The news does not reflect many of the real stories that affect our lives such as MOC, which is a Ponzi scheme pivotal for ABMS, the quality assurance cartels, testing monopolies, and the whole of the healthcare industrial complex, which is served by the lucrative data collection and labor force they have captured.
Physicians are being ransomed/tested to death. They are paying financial obeisance to the ABMS/ABIM for the right to work/get reimbursement from payers.
ReplyDeleteHow safe is that data ABMS/ABIM, et al have been extracting from physicians and patients? Not very safe at all!
ReplyDeleteThe ABMS is becoming increasingly like Scientology in organization. There are many parallels. The leaders of these organizations dictate the rules that the members are required to follow. They utilize higher level members to encourage the lower level members to comply with the rules. Lower level members are required to pay large sums of money for classes or information of dubious value. Members are frequently reminded that the information is of great value if they start to question the necessity of what they are buying. The leaders charge and collect large sums of money which are not transparent to the members and earn large incomes. Both organizations use extortion tactics to strong arm their members into compliance. (Scientology uses threats of shunning and harassment, ABMS uses threats to jobs or credentials).
Anybody who opposes or questions the "organization" / "church" is deemed a "suppressive person" and they have policies and tactics on how to handle such people. Just like the ABIM/ABMS with their "bureau of investigations" and the thuggish ways in which which they maintain their corporate monopoly.
ReplyDeleteOn Partisan Political Parties and Expensive Money Cults
ReplyDeletehttp://drwes.blogspot.com/2016/08/abim-foundation-co-creating-healthcare.html
http://drwes.blogspot.com/2014/12/the-abim-foundation-choosing-wisely-and.html
https://drwes.blogspot.com/2019/06/more-legal-trouble-for-abim.html
http://drwes.blogspot.com/2018/06/more-changes-are-coming-to-moc.html
https://abimfoundation.org/wp-content/uploads/2016/01/2015-ABIM-Foundation-Forum-Background-Paper.pdf
Collaborative Maintenance Pathway? What a lot of bombast!
ReplyDelete